YoY GMV growth of major cosmetic brands China 2023
In 2023, China's domestic brand Kans witnessed a year-over-year growth in gross merchandise volume (GMV) of 120.91 percent, the highest among leading beauty and cosmetic brands in China. Another domestic brand Grainrain followed closely with 96.34 percent GMV increase. L'Oréal experienced a slight decline in GMV, yet recording the highest GMV among the 20 leading brands.